Location: Democratic Republic of the Congo
Operator: CASA Mining Ltd
Gold in the Ground: 3 million ounces averaging 2.16 grams per tonne (JORC 2018)
ARC Minerals Stake: 99.43%
Stage: Advanced Exploration
Next Step: Commencement of scoping study
Project Investment to date: $30 million
CASA is a private gold mine development company and is currently advancing the large-scale 1.2 Au Moz Misisi Gold Project, located in the Democratic Republic of the Congo. ARC has since increased its stake in CASA to an approximate 90% equity interest upon conversion.
CASA has invested circa $30 million in exploration work across the Misisi project acreage. The company holds the rights to three contiguous mining licenses (133km2) located in the South Kivu province in the eastern Congo gold belt where they have; identified a 60km long 'corridor' prospective for gold, multiple prospects identified with some drill and trench tested returning significant intercepts.
The Akyanga deposit currently has an Inferred Mineral Resource of 44.4 million tonnes at 2.16 grams per tonne containing 3 million ounces. The statement of Mineral Resources (Table 1) completed by Denny Jones Pty Ltd ("Denny Jones"), a leading Australian based Resource Consultancy is reported in accordance with the requirements of the 2012 JORC Code
Undertaken a Positive Scoping Study at Akyanga confirming the potential viability of a 100,000 oz gold per year heap leach operation, with a total operating cost of under US$650/oz. CASA is looking to either commence commercial production at Akyanga or carry on expanding the resource where they believe there is scope to potentially double the resource.